Get a good #credit #score for buying #realestate in #nc There’s no more important time to work on your credit score than before you apply for a mortgage. Improving your credit score can save you a ton of money-we’re talking about thousands of dollars over the life of the loan. Here are the actions you can take that will have a notable impact on your score. Pay down your credit card balances. Credit utilization is one of the biggest factors in determining your score. Your credit utilization should at least be less than 30 percent of your limit, and it’s even better if you can get it below 15 percent. This rule applies to both individual cards and your overall credit limit. It may even be worthwhile to use some of the cash funds you were planning to use for a down payment to pay off credit card balances. Do no harm. While you certainly want to improve your score if possible, at the very least you’ll want to keep it steady.
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